Canadian Dollar Soars to Three-Month High Amid US Dollar Weakness

The Canadian dollar has reached its highest level in three months, driven by a weaker US dollar and stable oil prices.

A combination of softer US economic indicators, shifting expectations for Federal Reserve policy, and relatively resilient commodity prices have supported the loonie.

Recent US inflation data came in cooler than expected, fueling speculation that the Fed may begin easing policy sooner than previously anticipated.

This has put downward pressure on US yields and, consequently, the greenback.